Latest news with #MulkProperties
Khaleej Times
6 days ago
- Business
- Khaleej Times
Branded projects enter Dubai's commercial realty space
Dubai's commercial market space has grown in pace with the emirate's booming residential market, as businesses from around the world rush in to take advantage of the emirate's business-friendly policies. Chestertons Mena's Q1 2025 Market Report shows a 50.4% year-on-year increase in commercial leasing, underscoring the powerful convergence of market demand, investor confidence, and regulatory readiness. Office leasing led the commercial sector, recording over 101,000 transactions — a 62.7% increase compared to Q1 2024 — while retail leasing saw 36,000 transactions, amounting to Dh3.4 billion. Land leasing also posted steady gains. The data points to robust corporate expansion, growing business formation, and sustained appetite for commercial space across key UAE zones. The UAE's commercial real estate sector projected to exceed Dh207 billion by 2030. In a strategic move to address Dubai's growing demand for premium commercial spaces, Prospect, in partnership with Mulk Properties, recently launched The LX – a Dh350 million boutique office and retail development in Arjan. The launch comes at a time when Dubai's commercial market is seeing a paradigm shift — away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture. Set for handover in Q3 2027, The LX features 71 premium boutique office units and two curated retail spaces, offering modern businesses and discerning investors a rare opportunity to own commercial assets in a location experiencing unprecedented growth. With demand for flexible, high-specification office spaces at an all-time high in Dubai, The LX is positioned to fill a significant gap in Dubai's evolving commercial real estate sector. Mulk Properties, known globally for projects like Zim Cyber City and the Ajman Sports Complex, brings international development expertise and long-term vision to the partnership. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'Our focus has always been on high-impact, future-proof developments. With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district. Together with Prospect and OBG, we're setting a new benchmark for what boutique commercial development in Dubai should look like.' 'The LX is a targeted solution to an urgent market demand,' said Rajat Verma, Co-founder of Prospect. 'Our goal has always been to develop where demand is real and rising. As Dubai grows, so does the need for smart, well-located business infrastructure. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation. This project exemplifies Prospect's vision of delivering high-return assets in high-potential areas.' The LX is already drawing strong interest from investors, SMEs and entrepreneurs. 'We're witnessing a major shift in how commercial real estate is being utilized in Dubai. Businesses want flexibility, quality, and connectivity. Arjan offers all three, and The LX delivers on them at a premium standard. We're proud to represent a development that understands what the market truly needs,' said Umar Bin Farooq, Founder & CEO of One Broker Group. With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion. With thousands of new residential units being delivered, the demand for adjacent commercial infrastructure is rising sharply. The LX directly supports this growth by offering a professionally designed, investor-grade asset that balances prestige with practicality.
ME Construction
10-06-2025
- Business
- ME Construction
Prospect & Mulk Properties launch ‘The LX' in Arjan, Dubai
Property Prospect & Mulk Properties launch 'The LX' in Arjan, Dubai By The LX is set for handover in Q3 2027 with 71 premium boutique office units and two retail spaces Prospect and Mulk Properties have launched 'The LX', a US $94.5mn boutique office and retail development in Arjan, Dubai. The project was unveiled at a launch event held at the Waldorf Astoria, Palm Jumeirah and aims to meet the growing demand for premium commercial spaces in the city. One Broker Group (OBG) will be the exclusive sales partner for The LX, the statement confirmed. The LX is set for handover in Q3 2027 with 71 premium boutique office units and two retail spaces. The offering is said to represent a rare opportunity for modern businesses and discerning investors to own commercial assets in a location experiencing 'unprecedented growth'. With Dubai witnessing an all-time high demand for flexible, high-specification office spaces, The LX is poised to fill a significant gap in Dubai's commercial real estate sector. Mulk Properties brings international development expertise and long-term vision to the partnership. Dubai's commercial market is undergoing a significant shift, moving away from generic office towers towards purpose built, design-led spaces that prioritise community integration, functionality, and long-term investment value. This launch coincides with this transformative trend, the statement explained. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'Our focus has always been on high-impact, future-proof developments. With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district. Together with Prospect and OBG, we're setting a new benchmark for what boutique commercial development in Dubai should look like.' 'The LX isn't just another commercial development it's a targeted solution to an urgent market demand,' added Rajat Verma, Co-founder of Prospect. 'Our goal has always been to develop where demand is real and rising. As Dubai grows, so does the need for smart, well-located business infrastructure. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation. This project exemplifies Prospect's vision of delivering high-return assets in high-potential areas.' 'What sets The LX apart is not just its design or pricing – it's how perfectly it aligns with the market's future,' remarked Umar Bin Farooq, Founder & CEO of One Broker Group. 'We're witnessing a major shift in how commercial real estate is being utilised in Dubai. Businesses want flexibility, quality, and connectivity. Arjan offers all three, and The LX delivers on them at a premium standard. We're proud to represent a development that understands what the market truly needs.' With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion. With thousands of new residential units being delivered, the demand for adjacent commercial infrastructure is rising sharply. The LX directly supports this growth by offering a professionally designed, investor-grade asset that balances prestige with practicality. The project exemplifies how visionary partnerships between developers and expert sales strategists can reshape Dubai's commercial real estate future. The LX, drawing strong interest from investors, SMEs, and entrepreneurs seeking a growth-focused location with ROI potential, is led by One Broker Group, which holds the exclusive sales mandate, the statement concluded.
Zawya
30-05-2025
- Business
- Zawya
Prospect and Mulk Properties officially launch The LX – AED350mln Premium Commercial Development in Arjan, Dubai
Dubai, UAE – In a strategic move to address Dubai's growing demand for premium commercial spaces, Prospect, in partnership with Mulk Properties, has officially launched The LX – a landmark AED 350 million boutique office and retail development in Arjan, one of the city's most dynamic and rapidly expanding districts. One Broker Group (OBG) will be the exclusive sales partner for the project which was unveiled at a high-profile launch event at the Waldorf Astoria, Palm Jumeirah. Set for handover in Q3 2027, The LX features 71 premium boutique office units and 2 curated retail spaces, offering modern businesses and discerning investors a rare opportunity to own commercial assets in a location experiencing unprecedented growth. With demand for flexible, high-specification office spaces at an all-time high in Dubai, The LX is positioned to fill a significant gap in Dubai's evolving commercial real estate sector. Mulk Properties, known globally for projects like Zim Cyber City and the Ajman Sports Complex, brings international development expertise and long-term vision to the partnership. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'Our focus has always been on high-impact, future-proof developments. With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district. Together with Prospect and OBG, we're setting a new benchmark for what boutique commercial development in Dubai should look like.' The launch comes at a time when Dubai's commercial market is seeing a paradigm shift—away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture. 'The LX isn't just another commercial development—it's a targeted solution to an urgent market demand,' said Rajat Verma, Co-founder of Prospect. 'Our goal has always been to develop where demand is real and rising. As Dubai grows, so does the need for smart, well-located business infrastructure. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation. This project exemplifies Prospect's vision of delivering high-return assets in high-potential areas.' With One Broker Group leading the exclusive sales mandate, The LX is already drawing strong interest from investors, SMEs, and entrepreneurs looking to establish themselves in a growth-focused location with excellent ROI potential. 'What sets The LX apart is not just its design or pricing—it's how perfectly it aligns with the market's future,' said Umar Bin Farooq, Founder & CEO of One Broker Group. 'We're witnessing a major shift in how commercial real estate is being utilized in Dubai. Businesses want flexibility, quality, and connectivity. Arjan offers all three, and The LX delivers on them at a premium standard. We're proud to represent a development that understands what the market truly needs.' With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion. With thousands of new residential units being delivered, the demand for adjacent commercial infrastructure is rising sharply. The LX directly supports this growth by offering a professionally designed, investor-grade asset that balances prestige with practicality. Project Highlights AED 350 million premium commercial development 71 boutique office units & 2 curated retail spaces Contemporary architecture with refined interiors and balconies Dedicated F&B and retail zones Seamless highway access and proximity to key residential hubs Handover expected: Q3 2027 Unit prices starting AED 2 Million onwards With the UAE's commercial real estate sector projected to exceed AED 207 billion by 2030*, The LX is more than timely—it's essential. The project exemplifies how visionary partnerships between leading developers and expert sales strategists can reshape Dubai's commercial real estate future. About Prospect: PROSPECT is a forward-looking real estate investment and development firm specializing in joint ventures, land acquisitions, and turnkey solutions. Established in 2023 with a net worth of AED 2 billion, it is fully licensed and regulated by the Dubai Land Department and RERA. Founded by four seasoned industry leaders, PROSPECT brings together over seven decades of collective real estate experience across Dubai, Ras Al Khaimah, and Abu Dhabi. The team delivers value to developers by managing the entire project lifecycle from land identification to handover. The company is distinguished by its transparency and dedication to delivering exceptional client service. Driven by integrity, innovation, and excellence, PROSPECT creates spaces that align with evolving lifestyles and offer smart investment opportunities across the UAE. About Mulk Properties: Mulk Properties, a subsidiary of Mulk International, drives the group's real estate ventures with a focus on quality and innovation. Mulk International, established in 1982 and headquartered in Sharjah's Hamriyah Free Zone, is a global conglomerate with operations across Europe, the U.S., Africa, India, and the Middle East. Its diverse portfolio is recognized for its impact and scale, the group ranks #7 on Forbes' Top 100 Indian Companies in the Arab World and #8 on Arabian Business' Most Admired Companies in the GCC. About One Broker Group: An award-winning real estate agency focused on selling prestigious and renowned residential properties in the UAE - One Broker Group (OBG) will be exclusive sales partner for The LX. One Broker Group stands as Dubai's most distinguished real estate powerhouse, providing end-to-end solutions for prestigious residential & commercial properties across UAE's most coveted addresses. Our excellence is validated by the Dubai Land Department's recognition as the highest-performing brokerage for transactions in 2022. We excel through record-setting performances, ensuring every market decision drives maximum value for our clients. Our unique capability to generate interest in our exclusive projects through our extensive 10,000+ partner network and more than 150 expert in-house brokers is the core of the enormous value we add to our customers.
Arabian Business
30-05-2025
- Business
- Arabian Business
Dubai real estate: Prospect, Mulk Properties launch AED350mn premium commercial development in Arjan
Prospect, in partnership with Mulk Properties, announced the launch of The LX, an AED 350 million boutique office and retail development in Arjan. Set for handover in Q3 2027, The LX features 71 premium boutique office units and two curated retail spaces. Unit prices in the project will be starting from AED2 million, the companies said. With demand for flexible, high-specification office spaces at an all-time high in Dubai, The LX is positioned to fill a significant gap in Dubai's evolving commercial real estate sector, the companies said. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district,' he said. Rajat Verma, Co-founder of Prospect, said the project will be targeted solution to an urgent market demand. 'Our goal has always been to develop where demand is real and rising. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation,' he said. The launch comes at a time when Dubai's commercial market is seeing a paradigm shift – away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture, the companies said. One Broker Group (OBG) will be the exclusive sales partner for the project. The companies said their project is already drawing strong interest from investors, SMEs, and entrepreneurs looking to establish themselves in a growth-focused location with excellent ROI potential. With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion.
Zawya
30-05-2025
- Business
- Zawya
Prospect, Mulk unveil 71-unit boutique office, retail project in Dubai
UAE - Prospect, a leading real estate developer, has joined hands with Mulk Properties, for the official launch of its boutique office and retail development - The LX - within Arjan community in Dubai featuring 71 office units and two curated retail spaces. The new project comes in line with its strategic move to address Dubai's growing demand for premium commercial spaces. One Broker Group (OBG) will be the exclusive sales partner for the project which was unveiled at a high-profile launch event at the Waldorf Astoria, Palm Jumeirah. A landmark project being set up at an investment of AED350 million ($95.2 million), the LX features 71 premium boutique office units and 2 curated retail spaces, offering modern businesses and discerning investors a rare opportunity to own commercial assets in a location experiencing unprecedented growth. Set for handover in Q3 2027, The LX X is positioned to fill a significant gap in Dubai's evolving commercial real estate sector. Mulk Properties, known globally for projects like Zim Cyber City and the Ajman Sports Complex, brings international development expertise and long-term vision to the partnership. "The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight," said its Chairman Nawab Shaji Ul Mulk. "Our focus has always been on high-impact, future-proof developments. With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district. Together with Prospect and OBG, we're setting a new benchmark for what boutique commercial development in Dubai should look like," he stated. The launch comes at a time when Dubai's commercial market is seeing a paradigm shift - away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture. "The LX isn't just another commercial development - it's a targeted solution to an urgent market demand," said Rajat Verma, Co-founder of Prospect. "Our goal has always been to develop where demand is real and rising. As Dubai grows, so does the need for smart, well-located business infrastructure. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation. This project exemplifies Prospect's vision of delivering high-return assets in high-potential areas," he stated. With One Broker Group leading the exclusive sales mandate, The LX is already drawing strong interest from investors, SMEs, and entrepreneurs looking to establish themselves in a growth-focused location with excellent ROI potential. "What sets The LX apart is not just its design or pricing - it's how perfectly it aligns with the market's future," said Umar Bin Farooq, Founder & CEO of One Broker Group. "We're witnessing a major shift in how commercial real estate is being utilized in Dubai. Businesses want flexibility, quality, and connectivity. Arjan offers all three, and The LX delivers on them at a premium standard. We're proud to represent a development that understands what the market truly needs," he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
